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of the recovery, sandy, remain without power in the storm region. some areas likely to be without -- some of you in the ameri mta as a -- we're getting word from coned, the utility here in manhattan, tre to have electricity restored to the island of manhattan. >> not only that people are using cars more and more to get around because of the public transport limit people with generators need gas line to run them. >> wait until you hear the one on the distraught. i'm going to cancel. it just seems like a bad idea in terms of you drink a little too much. i'm not a big gasoline and fiber. >> and monster drinks are about as far as i'm willing to go on that front, as far as box drinks. >> there's an awful lot of cane in new orleans. >> jim just broke, for a minute it was exclusive. phil jones us talking about mall mali staying at ford. >> we're listening to the conference call where mallalay and -- one thing to keep in mind that's very important is that he did not want to just lead ford because this is a company that has a long and really a bad track record when it comes to ceo succession. he looks at
decline in shares since they hit the record high of more than 700. >> recovery from sandy continues. manhattan gets power back and most subway service is restored although millions in the region have no power or heat with tens of thousands this morning homeless. >> we'll begin with a big week for the market. first up tomorrow's presidential election in this country. polls show the race between barack obama and gop challenger mitt romney to be a dead heat. on wednesday the greek parliament is due to vote on a package of austerity measures and then china's congress convenes for once in a decade leadership change. that's not evening mentioning ecb. there's been some that have said this is potentially the highest concentration of risk of the entire year. >> i heard this. it's embarrassing to hear. what's happened the whole time is there are managements that have made money during this period and managements that have failed and models that have made money and models that have failed. i spent a lot of time this weekend going over the last five years of stocks. what i find is that you hav
on november comps. gap, macy's, target, all disappointing. is it all due to sandy and what does it mean for the holidays. >> tiffany is not a statement on lucksy, but rather company specific. >> quite near meets with the president today. . >> and we have another upgrade for research in motion. this time at goldman-sachs saying the blackberry 10 will not only beat expectations but also put the company in the black by fiscal '14. >> target, macy's and kohl's reporting unexpected declines. number of retailers blaming sandy for the lackluster results, david and jim. they say the second half of the month wasn't so bad, but still a lot of white knuckles as somebody said about the holidays. >> i think that one of the untold stories may still be exactly how bad sandy was. sandy is going to turn out to be a $100 billion storm. but i think it's a shutdown. it was the shutdown of a major part of the infrastructure of the nation. i'm going to go with the retailers who blame sandy. i'm going to take them at face value. >> so macy's they say record setting volume when it comes to thanksgiving, but th
. is the number really as good as it looks? >> the death toll from sandy now stands at 94 as more than 3 million homes still without power now facing colder weather, gas lines stretch for miles and controversy surrounding new york's decision to hold the marathon this sunday. >>> the ipad mini on sale but lines are shorter than expected. we're live at apple stores for the reaction. >>> and starbucks, same store sales up 7% well above expectations. what is howard schultz doing that mcdonald's, chipotle and other restaurant chains are not? >> the report before tuesday's election. nonfarm rose in the month of october above forecast of 125,000. august and september figures were revised higher, 184,000 private sector jobs were added last month. the unemployment rate ticking higher to 7.9%, but this was in line with expectation. it is the private company jobs addition that are the real highlight. government hiring contracted, so with all the private sector that was behind stronger than expected number here. >> that despite the fact it seems businesses have been reluctant to make significant additional
had trying to help the northeastern united states come back from hurricane sandy. >> i talked to people in the utility industry because i have a lot of people on. there's a lot of feeling that the politicians are going to really come down on the utilities after the smoke clears here. i'm hearing it from high level people in the utilities saying no matter what we do, easy times for stockholders could come to an end. >> there's no rule from god that con ed or whoever has to be the utility in any part of the country. >> something to watch. that group has been strong. it's been viewed as an unregulated group that used to be under the jacket of regulation. it could come back. >> many have dividend yields that are significant in these low yield times so they are attractive for that. con ed says it isn't going to try to assess what costs are going to be. >> if you're a politician, they're an easy pinata. red cross, no. con ed, yes. >> more on your money and your vote. we'll get you the opening bell. ralph nader was a third-party candidate in the 2012 presidential election. we'll ask
't outline sandy impact because it would be the pull forward in terms of sales in preparation for the hurricane but the books did close prior to sandy so full impact of sandy won't be felt. color expected on the conference call but that could be a key driver going into the last quarter of the year. metrics on the quarter were good. best ticket growth in four years in terms of ticket size. average ticket 54.50. up 2.9% year on year. even below the surface the numbers were really solid for home depot. >> one of the things that blake talked about on the conference call is investment in your home starting to grow faster than gdp? he's used that as yardstick to say we're still not there yet. we're still not there even though he's been doing the numbers. i want to know whether we're there in surpassing it. yesterday there was a good conference call. people didn't like it. i think that was one of those judgments about people saying, you know what? i want to take profit. stocks up 53%. home depot looks like it's not going to fall prey to fiscal cliff profit taking. need to know more.
? >> retailers like macy's finally quantifying the effect of hurricane sandy. walmart kicking off black friday earlier than ever. we start this morning with the markets looking to bounce back from yesterday's selloff and nearly 1313 drop in the dow. europe on wall street's radar after the ecb and bank of england kept key rates unchanged. draghi holding a press conference right now saying he sees economic rekafr ri remaining weak and reforms are crucial to boosting growth potential on top of greece passing an unpopular package of austerity measures on wednesday and necessary for greece to receive another round of international financial aid. china's ruling communist party congress con vealing today in a leadership change. so much to digest overseas, jim. what came out of the ecb is expected. came out of greece seems to be largely expected. but spain still resisting. a bailout. that's trouble. >> i know. every day the crucial -- that's the crucial link. you have to give them the good loans. take away the bad loans. create a situation of two banks and they're gone from 760 to 708. i think that th
they not read that or because we're down week after week is because of hurricane sandy? it's because it makes sense to sell. it makes sense to sell. the yields aren't going to be -- after tax aren't that good. if you're a rich person, 250,000 and you have taxable accounts that have stocks, do you think apple -- does that gentleman at jpmorgan looked at apple decided is the ipad mini? >> the funny thing is jpmorgan says companies aren't changing the way they pay out dividends. we've seen it with walmart and west lake chemical this morning issuing a special dividend. we've seen it time and time again where you have to think there's something behind these special dividends because they do seem to be stronger than they have been in years past. fourth quarter is seasonally a time for special dividends but this year it seems like we're hearing about them more and more. >> if we were in a great bull market and there's a tremendous cost to selling stocks, is that research may hold water. the truth is we're in the period where we all know we're 2 million jobs if we go over the fiscal cliff. if you wer
it on sandy. the euro zone falling into recession for the second time in four years although france and germany did expand, just barely seeing some red arrows in germany as well. walmart under pressure after missing on gps. target pulls out a bead on top and bottom line. but reaction not a whole lot better. what's the trade in black friday. >> there was there a steep selloff yesterday which put the nasdaq in correction territory. >> the head of mcdonald's u.s. business is out and jeff stratton will assume that business starting january 1. capped off last month with the first decline in monthly sales in about nine years. we'll begin with a teale of two retailers. walmart, revenues coming in short of forecast. -- as for target, the company posted third quarter earnings well above estimates, says it's poised for a strong fourth quarter, but walmart has some issues here, jim. they're talking countries including but not limited to brazil, china and some others too. >> yeah, i was thinking it bick, not brick. russia has been left out of the equation, foreign corrupt investigation, not a g
think the numbers are awful. >> sandy and fiscal cliff, a powerful combination. >> i don't want to shop. what does that mean if i don't want to shop. >> all retailers are doomed. >> frightening concept if i don't want to shop. >> i don't believe it. i can't believe it. >> i can't seen summon taking my debit card -- i wanted to go to the mall -- >> if that's not enough to get lawmakers' attention, i don't know what is. >> rise above, congress. that's what that says. >>> groupon tumbling market. missed wall street forecast. blaming weakness in europe for the shortfall. the stock has fallen more than 80% so far this year up. take a look at any metric and what you're seeing over the past three quarters there's a market decline in everything. in every important metric of its business there's a decline, including revenue growth. >> one of my favorite lines in this, what i regard as being almost a -- those remembering the dear soviet union they would put out -- soviet troops doing well in afghanistan. the best line is as discussed in our last call to understand the numbers, you have to dig bel
lows in yesterday's session. we're digesting economic data which show the impact of hurricane sandy. retail sales down 0.3%. down five of the past six sessions. eurozone industrial production dropping the most in three years. we do see red arrows across the board. a big meeting today in washington between ceos and the president over the fiscal cliff. reports today say obama wants 1.6 trillion in new taxes, two times what republicans were offered last year. is this whole negotiation going nowhere? >> cisco not only surprises the street with a beat but says the u.s. enterprise business is showing signs of improvement. >>> and abercrombie silences the shorts. >> the president is scheduled to meet with a dozen ceos this afternoon to hear their concerns about looming tax increases and spending cuts. 73% of participants in a "wall street journal" ceo council conference said the fiscal cliff is their primary concern. goldman chairman and ceo lloyd blankfein talking about the importance of avoiding the fiscal cliff. he writes there's more than a trillion dollars of cash that is sitting on t
attention to the northeast and weather. a week after being battered by sandy, storm stricken areas are bracing for a nor'easter as hundreds of thousands do not have power and a new flooding threat looms. want to check in with meteorologist todd gross back at hq. >> it's more than that. there's a real threat of significant snow in the new york metropolitan area and that's one of the things we're going to be discussing because there are still leaves on the trees, my friends, and that does not bode well as we saw one year ago when you have leaves on the trees and wet snow, it can be a major player in how the storm ends up. i'll explain what i mean. first of all, if you look at the satellite and radar combined, you can see the bright colors moving in on long island and moving in on new jersey. that is the actual first wave of precipitation coming in from this knockout nor'easter. there's already big winds from the storm. the big winds are in eastern massachusetts. nantucket gusting to 50 miles an hour already. there may be minor coastal flooding from the jersey shore through long islan
are already spoken for. this is the carryover effect from superstorm sandy. so many cars were damaged, destroyed during the storm. as a result, rental cars have been tight for some time in the northeastern united states. and that's the case this weekend. a lot of people, believe it or not, guys, they do like to rent a car in order to make the trip of 300 or 400 miles. this year in the northeast, good luck if you don't already have a reservation. carl, back to you. >> phil, the airport where you are looks pretty crowded but orderly. there's one silver lining for people who are traveling and that is, perhaps, airlines are actually running closer to on on time these days. >> reporter: yes. that's because you've seen restricted capacity. fewer flights, it's not as packed and as a result it's easier to keep with the on-time schedule. >> unbelievable, phil. thanks so much. phil at o'hare. i saw a stat today, since '07 i think airlines have taken out 14% of their capacity. >> wow. >> they're running lean and mean. in terms of getting a flight over the holidays, it's going to be packed. it's
sandy. a little over 20% of their business is done in the new york store. i would say 40% of sales are in the northeast. they have been impacted by that. also, you know, i think that maybe we're seeing a little bit of a pause maybe at that high end. maybe kind of more the aspirational customer at the high end. so i think that they're seeing a bit of a slowdown feeling a little bit more than maybe some of their peers that have moderately priced items. >> thank you for joining us. we appreciate it. >>> walmart facing union organized protests at some locations across the country this black friday. among the protesters, some employees walking off the job. hampton pearson is at capital plaza market in woodland. is it just the fact that some were forced to work on thanksgiving night or are there bigger issues here? >> reporter: it's both. cut to the chase, there are bigger issues. number one, a well orchestrated protest is under way. the marchers are on the move. 250 to 300 taking the route to end up in the parking lot behind me. walmart has kept us off the property because of the protes
sandy. >> i thought that the ceo of pbh told an amazing story. a gigantic number of stores were taken out by sandy and yet he still was very confident about the numbers. i will say -- i've been very negative about jcpenney and stocks not doing anything, he did say pointblank that jcpenney had a really good, really good black friday. >> really? >> i want you to remember, jcpenney is going big using a heritage brand that had plus seven comp number. i have to point it out. i've been negative on jcpenney. what he said was he has seen some acceleration of sales there. i don't know if that means profits. >> how narrow is that in terms of their channels and does it -- as we watch jcpenney shares reversed on your remarks just now. >> knight capital reversed on your remarks. >> my remarks were based on something that was happening. >> that shows you that people watch this show more than -- i think it's emblematic -- i was in jcpenney recently. i bought a really nice hat. for weather like we had yesterday. a lot of what's happened at jcpenney is to embrace the brands not unlike what macy's has
of things. sandy continues to make me feel these numbers are too difficult. i find them unfathomable. the speech is about way too much unemployment and very unfathomable in terms of the actual destruction. you got numbers from two different governors. they are unusually low. i don't trust any number during this period. >> especially the number we'll get a week from today which estimates for nonfarm are not that good. 75 maybe. sandy will continue to ring in our ears for the next few weeks. >> and then i believe you're going to get when you get supplies rebuilt and enough bricks and enough lumber. did you see that lumber hit a six-year high yesterday. >> wow. >> copper. a lot of people talking about short buy on copper. everyone saying it's about china. a lot of copper comes from scrap and the scrap in the northeast where there's a huge amount of copper, it's extraordinary. a lot of equipment is stalled. >> think of the copper wires here downtown eroded because of exposure to salt water that need to be replaced. >> when i hear the things that have been thrown away, the 500,000 cases o
to third quarter gdp on thursday. here with what to watch for including effects from superstorm sandy is steve liesman. >> good interview on blackberry. a week to pay attention to the data. it will be affected by hurricane sandy making it difficult to figure out underlying momentum. gdp is not one of the data points. we put an asterisk next to data potentially affected by sandy. some worry that markets won't see through sandy effects and could walk away with a bearish look. there's durable goods potential effect there down 1.3% after a surge the prior month. consumer confidence, probably not. new home sales certainly in the northeast have potential. moving on to thursday. jobless claims. definite potential there and pending home sales. not gdp. this game at the end of the quarter or after the quarter had ended. now let's look at jobless claims data here. do we have that? i think we do. there we go. there's hurricane sandy. hurricane katrina. you can see it's following a very, very similar pattern there and the expectation is that it will come down again on thursday to 390,000. one mor
. these are very strong numbers despite sandy you get a good read away from -- >> congress was out on friday and president was begun on friday and we didn't have massive rally we saw yesterday. >> we had option expiration. i think the idea that he's talking to people who have been -- the idea that the white house is talking to business people and let's say you're boeing. you got a lot of congress people that you could call and say, listen, this is real bad for us. we're the ones getting hurt. do you remember your roots, republicans? you're pro-defense. want to raise the defense budget. by doing this you'll cut our defense budget. the democrats did flip on a lot of things that republicans have got to be worried about. this is not just -- the defense budget has always been championed by the republicans. when you see boeing get the call, honeywell is laying off people already in defense. you got real issues here for employment not just increases for people and taxes. employment. can't have that go down. >> people may not believe that it was the rise above rally. whether or not you believe it wa
with a statement at the top saying sandy reduced industrial production output by nearly 1 percentage point so the bottom line is the industrial production would have been above expectations were it not for sandy. and a lot of people took a while for them to read that. i think that helped turn the markets around a little bit right now. elsewhere, the sectors hit hard by concerns of the fiscal cliff on the downside today. it's been an ugly week for industrial trust. down 6% since the election. the association met this week in san diego. had an annual meeting and my understanding is fairly downbeat. a little bit of concern. even though the fundamentals of real estate doing well. supply is muted. capital is cheap. in theory, not a bad time to be in the real estate business. utilities down more than 6%. they were hurt by sandy a little bit. the northeast ones. there's a one-month chart. finally today, a positive print on the overall utilities but a rocky road for them and same situation with telecom. they're the most affected by the fiscal cliff issues. telecom down about 5.5% since the election b
, simon, i think right now things are changing and we remain to see the effects of sandy on the data. >> let me return to this subject of why the consumer remains so strong. do you think the average american is aware of what the fiscal cliff is when you look at the numbers that watch television news or read newspapers and the degree to which they may not have spoken about that subject during the election campaign and most people thought by taxing rich we would solve problems we have in america and people have no idea that general low income americans have no idea i would suggest that the fiscal cliff is on its way. no wonder they are out there spending money. no wonder. >> i wouldn't make a distinction between what low income americans or high income americans know less than anyone around the scale. on the other hand, simon, it may be that people think they'll solve this problem and it's not going to affect them given the pledge by the president not to allow the tax increases and spending cuts to hit people $250,000 and below. that's a distinct possibility. i would also point out, si
Search Results 0 to 19 of about 20